The chip industry is facing structural upheavals caused by changing U.S. trade policy toward China, supply chain disruptions effectuated by Russia’s invasion of Ukraine, and prevailing recessionary fear blunting demand.
As per Semiconductor Industry Association, the global chip market contracted in October with a 4.6% decline from the prior year, driven down by the strong influence of shrinking markets in China and Asia-Pacific. In addition, according to a report by Gartner, PC sales are falling off a cliff, as worldwide PC shipments declined 19.5% in the third quarter of 2022.
